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Knowledge Hub

Knowledge Hub

5 min read

Navigating Bicycle Insurance & Portable Sports Equipment Coverage

Home and Leisure February 22, 2024

If there's one thing that unites South Africans, it's our love of sport. We fill stadiums and crowd around screens to watch our favourite teams compete locally and internationally and pursue solo sports like biking, running, or surfing in our free time. If you enjoy sports as a hobby, you'll know that quality equipment is expensive but worth it, as the rewards are so gratifying. One of South Africa's fastest-growing sports is cycling on and off-road. Discover how you can get Bicycle Insurance and other sports equipment with a Portable Possessions Insurance policy. 


Cycling and mountain biking: a growing sport in South Africa


Road cycling and mountain biking have been a popular pastime in South Africa for several years now. Our country's abundance of scenery and natural sights makes it an attractive avenue for mountain bikers or road cyclists to pursue. Competitions like the Cape Town Cycle Tour, AmaShova and Absa Cape Epic have grown in popularity. As a result, many South Africans have poured their hearts and souls into cycling and mountain biking for fitness and leisure. 

According to a 2021 Garmin Survey, the number of mountain bikers riding for over five years has increased to almost 50%, with most being individuals over 40 with full-time jobs and responsibilities. The majority of riders also confirmed to be committed to their hobby (as opposed to only biking occasionally or socially), with most participating in at least three cycling competitions or events a year. 

In addition to cycling being a tried and trusted pastime for many South Africans, it's also becoming a viable, more sustainable mode of transport in some areas, allowing riders to swap the high costs of owning, insuring, fuelling, and maintaining a vehicle for a transportation option that's easier on the pocket and allows them to escape traffic. 

As any person who has gotten into a hobby or pastime will know, getting properly set up for success can be costly, and cycling is no different. Whether you're planning on riding competitively or for fun, you'll need to invest in a bike, helmet, shoes, lock, pump, cyclometer, and more. Portable Possessions Insurance, a form of short-term insurance, can comprehensively cover multiple items and is critical for cycling enthusiasts. Losing, being robbed of or damaging your equipment can be a major financial blow if you are not covered. Discover more about getting this type of insurance. 


Understanding Bicycle Insurance: how is it covered? 


While every insurer has a unique approach to Bicycle Insurance, you can include your bike as a specified item in a Home Contents or Portable Possessions Insurance policy. A specified item refers to a valuable possession explicitly listed and individually insured within the policy. These items include jewellery, art, electronics and sports equipment exceeding standard coverage limits. By specifying these valuables, policyholders ensure comprehensive protection and may receive compensation for the full value in the case of damage, loss, or theft. 

If you have a high-value model that you travel with or keep stored at home, these two options are a good fit. It’s recommended that you provide accurate details and costs for your bicycle and other sports equipment to guarantee appropriate coverage. This will allow your insurer to tailor protection to the unique value of each listed possession. Generally, Bicycle Insurance includes:

  • Theft

  • Accidental damage

  • Vandalism 

  • Third-party liability 


How are Bicycle Insurance premiums calculated?


Insurers follow no hard and fast rules to determine a person's risk and premiums, but some factors can impact it. Your bike insurance premiums are generally calculated based on three factors: 

1. Value — this is the cost of the bike and its accessories. It can cover the bike's market value or the cost of replacing it with a similar make or model. 

2. Safety — as with all assets, how you keep these items safe matters. Keeping your bicycle in a locked and secured garage with additional locks on the wheels or handles can result in a lower premium than someone who stores their bike on the verandah. 

3. Behaviour — some forms of biking pose more of a risk than others. For example, if you don't race competitively and enjoy riding alone, you'll likely enjoy lower premiums than someone who races competitively. 


Portable sports equipment: what should you insure?


Insuring portable sports equipment is worthwhile as it safeguards against unforeseen events that could compromise both your financial investment and recreational enjoyment. Whether it's that high-end camera for capturing adventures, specialised camping gear, or digital sports accessories like a Garmin watch, insurance provides financial protection against theft, accidental damage, or loss.  

Given the mobile nature of these items, they are susceptible to a range of risks during transport, use, or storage. Insurance ensures that sports fans can pursue their passions and pastimes with peace of mind, knowing that the financial burden of replacing or repairing valuable equipment is mitigated in the face of unexpected setbacks.

The following sports equipment is worth insuring due to the high cost of repair or replacement: 

  • Golfing — a set of quality golf clubs, along with specialised golfing shoes.

  • Fishing — a full kit including a reel, ball bearing, spool and rods. 

  • Surfing  — A surfboard and wetsuit.

  • Footwear — some types of high-value shoes are worth insuring.

  • Sports apparel — like smartwatches, GPS, GoPro and other electronics. 


Tips for maximising your sports equipment and Bicycle Insurance


Getting the best coverage and peace of mind from your sports equipment and bike insurance hinges on selecting the right kind of insurance and insuring the item for the right value. This requires you to play your part in the process, as it will help when claiming on insurance. Get the most value out of your insurance by: 

  • Being transparent. Starting with a complete understanding of what you need to insure, what you use it for and how much it's worth will help you get accurate coverage for your needs. You'll also need to update this policy accordingly as you add to or remove equipment from your collection.

  • Keeping accurate information. Include your equipment serial numbers, receipts, and warranties. This will help substantiate any claims you make.

  • Protecting your belongings. Implement all the recommended safety and security measures available for your equipment and home. 


Get a bike insurance quote from Dialdirect


Integrating coverage for your sports equipment or bike doesn't have to be complicated or costly. Contact Dialdirect today, and we'll help you choose an insurance product, like Portable Possessions or Home Contents Insurance, for a Bicycle Insurance quote or any other portable sports equipment that meets your needs.

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